Independent Standard-Setting Boards

The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.

The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.

The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.

Governance

The recent financial and economic crises exposed many corporate governance weaknesses—but, at the same time, they created momentum for change. Effective governance encourages better organizational decision making, accountability, and robust scrutiny of organizational performance. Accountants are in an excellent position to ensure that governance is integrated into the very DNA of their organizations, which has been identified as critical to its effectiveness. See the full overview.

In 2006, the Institute for Solidarity in Asia collaborated with the PRC through the Board of Accountancy BOA together with the Philippine Institute of Certified Public Accountants—the Accredited Professional Organization for CPAs—and began its...

IFAC recently spoke with Ardiana Bunjaku, Executive Director at the Society of Certified Accountants and Auditors of Kosovo about the importance of establishing a good governance structure within her growing institute.